North Chungcheong launches hiring incentive for international graduates

A government-backed hiring incentive program for international students that provides financial support to companies hiring foreign talent has been launched in Goesan, North Chungcheong.

The county’s local government announced Sunday that it will accept applications from local businesses through Dec. 18 for the program.

The initiative aims to ease labor shortages in depopulated regions while encouraging foreign talent to settle in local communities, according to North Chungcheong’s provincial government.

The province introduced the hiring incentive program last year as part of its Regional Innovation System & Education (RISE) initiative to promote employment opportunities and encourage the long-term settlement of international students.

The RISE initiative is a nationwide program that provides funding to provincial governments to manage higher education budgets and foster collaboration between universities and local industries to support regional development.

Under the program, companies located in designated depopulated areas of the province that hire international students who graduated from universities in North Chungcheong will receive financial incentives if they retain the employees for a specified period.

This year, Goesan County has been allocated funding for up to 10 hires, with each company eligible to receive support for a maximum of five employees.

Selected companies will receive 500,000 won ($327) per month for six months, totaling 3 million won per eligible employee, to help offset labor costs.

To qualify, companies must hire international students holding a D-2 student visa or D-10 job-seeking visa, support their transition to the F-2-R Regional Specialized Visa and retain them for at least six months.

The county will review supporting documents and finalize the list of recipients by the end of December before providing the incentives in a lump-sum payment.

BY YOON SEUNG-JIN [[email protected]]